As you know, on 05/27/2015 a strong support formed at the second bottom we have seen a strong reaction. Using two forks previous point that hit the trend line and the first part of the middle fork and it is proven. If we look at the exact angle of the three waves of the third wave hitting the end of the fork and the trend line is obtained. Almost decisively deal with certain 1.10775 price.
There probably after hitting 1.10775 the downward trend to hit the 1.08 support point and the third bottom is built there and the price is extreme to the point of 1.14
There is another scenario that is already supported the 1.08 reject and to reflect the loss is 1.05225.
Kind Regards, Pooya Salehipour
Comments
Crit_Nasty
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Well played sir. You're a market pimp!
PooyaSalehipour
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I'm not an analyst. I'm just trying to figure market behavior in the future.
RobertPapon
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You are doing it very well
The_Cannalyst
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great Job! thx for sharing that!
The_Cannalyst
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The_Cannalyst
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When we have a look at the longterm Chart we see a clear and very wide downchannel. At the beginning of 2015 we have kissed the downtrend channels bottom @ 1,04. From that Level on we started a Rebound nearly till the Minimum correction fibo (38,2) . here is also based the EMA 200 as a resist.
Now the Pair is forming a bearish flag! (blue). This bearish flag will generate a TP at the downside @ below the parity @ 0,965 if it will be triggered.
The cyclical /-or longterm swingview will generate a longterm tp @ the downtrendchannels upper edge @ 1,33! ( Magenta "3"?). On it s way up to that cyclical target several resist zones are based:
-EMA 200: 1,135
-0,38 fibo: 1,18
-0,5 fibo: 1,22
-0,618 fibo: 1,26
-Resistance tone formed of former lows between 1,2-1,25
The_Cannalyst
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PooyaSalehipour
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@Tradersince1997 thanks but. take a look at this one.